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¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡¡CONCLUSION¡¡OF¡¡THE¡¡CHAPTER¡¡



¡¡¡¡¡¡¡¡¡¡I¡¡shall¡¡conclude¡¡this¡¡very¡¡long¡¡chapter¡¡with¡¡observing¡¡that

every¡¡improvement¡¡in¡¡the¡¡circumstances¡¡of¡¡the¡¡society¡¡tends

either¡¡directly¡¡or¡¡indirectly¡¡to¡¡raise¡¡the¡¡real¡¡rent¡¡of¡¡land£»¡¡to

increase¡¡the¡¡real¡¡wealth¡¡of¡¡the¡¡landlord£»¡¡his¡¡power¡¡of¡¡purchasing

the¡¡labour£»¡¡or¡¡the¡¡produce¡¡of¡¡the¡¡labour¡¡of¡¡other¡¡people¡£

¡¡¡¡¡¡¡¡¡¡The¡¡extension¡¡of¡¡improvement¡¡and¡¡cultivation¡¡tends¡¡to¡¡raise

it¡¡directly¡£¡¡The¡¡landlord's¡¡share¡¡of¡¡the¡¡produce¡¡necessarily

increases¡¡with¡¡the¡¡increase¡¡of¡¡the¡¡produce¡£

¡¡¡¡¡¡¡¡¡¡That¡¡rise¡¡in¡¡the¡¡real¡¡price¡¡of¡¡those¡¡parts¡¡of¡¡the¡¡rude

produce¡¡of¡¡land£»¡¡which¡¡is¡¡first¡¡the¡¡effect¡¡of¡¡extended

improvement¡¡and¡¡cultivation£»¡¡and¡¡afterwards¡¡the¡¡cause¡¡of¡¡their

being¡¡still¡¡further¡¡extended£»¡¡the¡¡rise¡¡in¡¡the¡¡price¡¡of¡¡cattle£»

for¡¡example£»¡¡tends¡¡too¡¡to¡¡raise¡¡the¡¡rent¡¡of¡¡land¡¡directly£»¡¡and¡¡in

a¡¡still¡¡greater¡¡proportion¡£¡¡The¡¡real¡¡value¡¡of¡¡the¡¡landlord's

share£»¡¡his¡¡real¡¡command¡¡of¡¡the¡¡labour¡¡of¡¡other¡¡people£»¡¡not¡¡only

rises¡¡with¡¡the¡¡real¡¡value¡¡of¡¡the¡¡produce£»¡¡but¡¡the¡¡proportion¡¡of

his¡¡share¡¡to¡¡the¡¡whole¡¡produce¡¡rises¡¡with¡¡it¡£¡¡That¡¡produce£»¡¡after

the¡¡rise¡¡in¡¡its¡¡real¡¡price£»¡¡requires¡¡no¡¡more¡¡labour¡¡to¡¡collect¡¡it

than¡¡before¡£¡¡A¡¡smaller¡¡proportion¡¡of¡¡it¡¡will£»¡¡therefore£»¡¡be

sufficient¡¡to¡¡replace£»¡¡with¡¡the¡¡ordinary¡¡profit£»¡¡the¡¡stock¡¡which

employs¡¡that¡¡labour¡£¡¡A¡¡greater¡¡proportion¡¡of¡¡it¡¡must£»

consequently£»¡¡belong¡¡to¡¡the¡¡landlord¡£

¡¡¡¡¡¡¡¡¡¡All¡¡those¡¡improvements¡¡in¡¡the¡¡productive¡¡powers¡¡of¡¡labour£»

which¡¡tend¡¡directly¡¡to¡¡reduce¡¡the¡¡real¡¡price¡¡of¡¡manufactures£»

tend¡¡indirectly¡¡to¡¡raise¡¡the¡¡real¡¡rent¡¡of¡¡land¡£¡¡The¡¡landlord

exchanges¡¡that¡¡part¡¡of¡¡his¡¡rude¡¡produce£»¡¡which¡¡is¡¡over¡¡and¡¡above

his¡¡own¡¡consumption£»¡¡or¡¡what¡¡comes¡¡to¡¡the¡¡same¡¡thing£»¡¡the¡¡price

of¡¡that¡¡part¡¡of¡¡it£»¡¡for¡¡manufactured¡¡produce¡£¡¡Whatever¡¡reduces

the¡¡real¡¡price¡¡of¡¡the¡¡latter£»¡¡raises¡¡that¡¡of¡¡the¡¡former¡£¡¡An¡¡equal

quantity¡¡of¡¡the¡¡former¡¡becomes¡¡thereby¡¡equivalent¡¡to¡¡a¡¡greater

quantity¡¡of¡¡the¡¡latter£»¡¡and¡¡the¡¡landlord¡¡is¡¡enabled¡¡to¡¡purchase¡¡a

greater¡¡quantity¡¡of¡¡the¡¡conveniences£»¡¡ornaments£»¡¡or¡¡luxuries£»

which¡¡he¡¡has¡¡occasion¡¡for¡£

¡¡¡¡¡¡¡¡¡¡Every¡¡increase¡¡in¡¡the¡¡real¡¡wealth¡¡of¡¡the¡¡society£»¡¡every

increase¡¡in¡¡the¡¡quantity¡¡of¡¡useful¡¡labour¡¡employed¡¡within¡¡it£»

tends¡¡indirectly¡¡to¡¡raise¡¡the¡¡real¡¡rent¡¡of¡¡land¡£¡¡A¡¡certain

proportion¡¡of¡¡this¡¡labour¡¡naturally¡¡goes¡¡to¡¡the¡¡land¡£¡¡A¡¡greater

number¡¡of¡¡men¡¡and¡¡cattle¡¡are¡¡employed¡¡in¡¡its¡¡cultivation£»¡¡the

produce¡¡increases¡¡with¡¡the¡¡increase¡¡of¡¡the¡¡stock¡¡which¡¡is¡¡thus

employed¡¡in¡¡raising¡¡it£»¡¡and¡¡the¡¡rent¡¡increases¡¡with¡¡the¡¡produce¡£

¡¡¡¡¡¡¡¡¡¡The¡¡contrary¡¡circumstances£»¡¡the¡¡neglect¡¡of¡¡cultivation¡¡and

improvement£»¡¡the¡¡fall¡¡in¡¡the¡¡real¡¡price¡¡of¡¡any¡¡part¡¡of¡¡the¡¡rude

produce¡¡of¡¡land£»¡¡the¡¡rise¡¡in¡¡the¡¡real¡¡price¡¡of¡¡manufactures¡¡from

the¡¡decay¡¡of¡¡manufacturing¡¡art¡¡and¡¡industry£»¡¡the¡¡declension¡¡of

the¡¡real¡¡wealth¡¡of¡¡the¡¡society£»¡¡all¡¡tend£»¡¡on¡¡the¡¡other¡¡hand£»¡¡to

lower¡¡the¡¡real¡¡rent¡¡of¡¡land£»¡¡to¡¡reduce¡¡the¡¡real¡¡wealth¡¡of¡¡the

landlord£»¡¡to¡¡diminish¡¡his¡¡power¡¡of¡¡purchasing¡¡either¡¡the¡¡labour£»

or¡¡the¡¡produce¡¡of¡¡the¡¡labour¡¡of¡¡other¡¡people¡£

¡¡¡¡¡¡¡¡¡¡The¡¡whole¡¡annual¡¡produce¡¡of¡¡the¡¡land¡¡and¡¡labour¡¡of¡¡every

country£»¡¡or¡¡what¡¡comes¡¡to¡¡the¡¡same¡¡thing£»¡¡the¡¡whole¡¡price¡¡of¡¡that

annual¡¡produce£»¡¡naturally¡¡divides¡¡itself£»¡¡it¡¡has¡¡already¡¡been

observed£»¡¡into¡¡three¡¡parts£»¡¡the¡¡rent¡¡of¡¡land£»¡¡the¡¡wages¡¡of

labour£»¡¡and¡¡the¡¡profits¡¡of¡¡stock£»¡¡and¡¡constitutes¡¡a¡¡revenue¡¡to

three¡¡different¡¡orders¡¡of¡¡people£»¡¡to¡¡those¡¡who¡¡live¡¡by¡¡rent£»¡¡to

those¡¡who¡¡live¡¡by¡¡wages£»¡¡and¡¡to¡¡those¡¡who¡¡live¡¡by¡¡profit¡£¡¡These

are¡¡the¡¡three¡¡great£»¡¡original£»¡¡and¡¡constituent¡¡orders¡¡of¡¡every

civilised¡¡society£»¡¡from¡¡whose¡¡revenue¡¡that¡¡of¡¡every¡¡other¡¡order

is¡¡ultimately¡¡derived¡£

¡¡¡¡¡¡¡¡¡¡The¡¡interest¡¡of¡¡the¡¡first¡¡of¡¡those¡¡three¡¡great¡¡orders£»¡¡it

appears¡¡from¡¡what¡¡has¡¡been¡¡just¡¡now¡¡said£»¡¡is¡¡strictly¡¡and

inseparably¡¡connected¡¡with¡¡the¡¡general¡¡interest¡¡of¡¡the¡¡society¡£

Whatever¡¡either¡¡promotes¡¡or¡¡obstructs¡¡the¡¡one£»¡¡necessarily

promotes¡¡or¡¡obstructs¡¡the¡¡other¡£¡¡When¡¡the¡¡public¡¡deliberates

concerning¡¡any¡¡regulation¡¡of¡¡commerce¡¡or¡¡police£»¡¡the¡¡proprietors

of¡¡land¡¡never¡¡can¡¡mislead¡¡it£»¡¡with¡¡a¡¡view¡¡to¡¡promote¡¡the¡¡interest

of¡¡their¡¡own¡¡particular¡¡order£»¡¡at¡¡least£»¡¡if¡¡they¡¡have¡¡any

tolerable¡¡knowledge¡¡of¡¡that¡¡interest¡£¡¡They¡¡are£»¡¡indeed£»¡¡too¡¡often

defective¡¡in¡¡this¡¡tolerable¡¡knowledge¡£¡¡They¡¡are¡¡the¡¡only¡¡one¡¡of

the¡¡three¡¡orders¡¡whose¡¡revenue¡¡costs¡¡them¡¡neither¡¡labour¡¡nor

care£»¡¡but¡¡comes¡¡to¡¡them£»¡¡as¡¡it¡¡were£»¡¡of¡¡its¡¡own¡¡accord£»¡¡and

independent¡¡of¡¡any¡¡plan¡¡or¡¡project¡¡of¡¡their¡¡own¡£¡¡That¡¡indolence£»

which¡¡is¡¡the¡¡natural¡¡effect¡¡of¡¡the¡¡ease¡¡and¡¡security¡¡of¡¡their

situation£»¡¡renders¡¡them¡¡too¡¡often£»¡¡not¡¡only¡¡ignorant£»¡¡but

incapable¡¡of¡¡that¡¡application¡¡of¡¡mind¡¡which¡¡is¡¡necessary¡¡in¡¡order

to¡¡foresee¡¡and¡¡understand¡¡the¡¡consequences¡¡of¡¡any¡¡public

regulation¡£

¡¡¡¡¡¡¡¡¡¡The¡¡interest¡¡of¡¡the¡¡second¡¡order£»¡¡that¡¡of¡¡those¡¡who¡¡live¡¡by

wages£»¡¡is¡¡as¡¡strictly¡¡connected¡¡with¡¡the¡¡interest¡¡of¡¡the¡¡society

as¡¡that¡¡of¡¡the¡¡first¡£¡¡The¡¡wages¡¡of¡¡the¡¡labourer£»¡¡it¡¡has¡¡already

been¡¡shown£»¡¡are¡¡never¡¡so¡¡high¡¡as¡¡when¡¡the¡¡demand¡¡for¡¡labour¡¡is

continually¡¡rising£»¡¡or¡¡when¡¡the¡¡quantity¡¡employed¡¡is¡¡every¡¡year

increasing¡¡considerably¡£¡¡When¡¡this¡¡real¡¡wealth¡¡of¡¡the¡¡society

becomes¡¡stationary£»¡¡his¡¡wages¡¡are¡¡soon¡¡reduced¡¡to¡¡what¡¡is¡¡barely

enough¡¡to¡¡enable¡¡him¡¡to¡¡bring¡¡up¡¡a¡¡family£»¡¡or¡¡to¡¡continue¡¡the

race¡¡of¡¡labourers¡£¡¡When¡¡the¡¡society¡¡declines£»¡¡they¡¡fall¡¡even

below¡¡this¡£¡¡The¡¡order¡¡of¡¡proprietors¡¡may£»¡¡perhaps£»¡¡gain¡¡more¡¡by

the¡¡prosperity¡¡of¡¡the¡¡society¡¡than¡¡that¡¡of¡¡labourers£º¡¡but¡¡there

is¡¡no¡¡order¡¡that¡¡suffers¡¡so¡¡cruelly¡¡from¡¡its¡¡decline¡£¡¡But¡¡though

the¡¡interest¡¡of¡¡the¡¡labourer¡¡is¡¡strictly¡¡connected¡¡with¡¡that¡¡of

the¡¡society£»¡¡he¡¡is¡¡incapable¡¡either¡¡of¡¡comprehending¡¡that

interest¡¡or¡¡of¡¡understanding¡¡its¡¡connection¡¡with¡¡his¡¡own¡£¡¡His

condition¡¡leaves¡¡him¡¡no¡¡time¡¡to¡¡receive¡¡the¡¡necessary

information£»¡¡and¡¡his¡¡education¡¡and¡¡habits¡¡are¡¡commonly¡¡such¡¡as¡¡to

render¡¡him¡¡unfit¡¡to¡¡judge¡¡even¡¡though¡¡he¡¡was¡¡fully¡¡informed¡£¡¡In

the¡¡public¡¡deliberations£»¡¡therefore£»¡¡his¡¡voice¡¡is¡¡little¡¡heard

and¡¡less¡¡regarded£»¡¡except¡¡upon¡¡some¡¡particular¡¡occasions£»¡¡when

his¡¡clamour¡¡is¡¡animated£»¡¡set¡¡on¡¡and¡¡supported¡¡by¡¡his¡¡employers£»

not¡¡for¡¡his£»¡¡but¡¡their¡¡own¡¡particular¡¡purposes¡£

¡¡¡¡¡¡¡¡¡¡His¡¡employers¡¡constitute¡¡the¡¡third¡¡order£»¡¡that¡¡of¡¡those¡¡who

live¡¡by¡¡profit¡£¡¡It¡¡is¡¡the¡¡stock¡¡that¡¡is¡¡employed¡¡for¡¡the¡¡sake¡¡of

profit¡¡which¡¡puts¡¡into¡¡motion¡¡the¡¡greater¡¡part¡¡of¡¡the¡¡useful

labour¡¡of¡¡every¡¡society¡£¡¡The¡¡plans¡¡and¡¡projects¡¡of¡¡the¡¡employers

of¡¡stock¡¡regulate¡¡and¡¡direct¡¡all¡¡the¡¡most¡¡important¡¡operations¡¡of

labour£»¡¡and¡¡profit¡¡is¡¡the¡¡end¡¡proposed¡¡by¡¡all¡¡those¡¡plans¡¡and

projects¡£¡¡But¡¡the¡¡rate¡¡of¡¡profit¡¡does¡¡not£»¡¡like¡¡rent¡¡and¡¡wages£»

rise¡¡with¡¡the¡¡prosperity¡¡and¡¡fall¡¡with¡¡the¡¡declension¡¡of¡¡the

society¡£¡¡On¡¡the¡¡contrary£»¡¡it¡¡is¡¡naturally¡¡low¡¡in¡¡rich¡¡and¡¡high¡¡in

poor¡¡countries£»¡¡and¡¡it¡¡is¡¡always¡¡highest¡¡in¡¡the¡¡countries¡¡which

are¡¡going¡¡fastest¡¡to¡¡ruin¡£¡¡The¡¡interest¡¡of¡¡this¡¡third¡¡order£»

therefore£»¡¡has¡¡not¡¡the¡¡same¡¡connection¡¡with¡¡the¡¡general¡¡interest

of¡¡the¡¡society¡¡as¡¡that¡¡of¡¡the¡¡other¡¡two¡£¡¡Merchants¡¡and¡¡master

manufacturers¡¡are£»¡¡in¡¡this¡¡order£»¡¡the¡¡two¡¡classes¡¡of¡¡people¡¡who

commonly¡¡employ¡¡the¡¡largest¡¡capitals£»¡¡and¡¡who¡¡by¡¡their¡¡wealth

draw¡¡to¡¡themselves¡¡the¡¡greatest¡¡share¡¡of¡¡the¡¡public

consideration¡£¡¡As¡¡during¡¡their¡¡whole¡¡lives¡¡they¡¡are¡¡engaged¡¡in

plans¡¡and¡¡projects£»¡¡they¡¡have¡¡frequently¡¡more¡¡acuteness¡¡of

understanding¡¡than¡¡the¡¡greater¡¡part¡¡of¡¡country¡¡gentlemen¡£¡¡As

their¡¡thoughts£»¡¡however£»¡¡are¡¡commonly¡¡exercised¡¡rather¡¡about¡¡the

interest¡¡of¡¡their¡¡own¡¡particular¡¡branch¡¡of¡¡business£»¡¡than¡¡about

that¡¡of¡¡the¡¡society£»¡¡their¡¡judgment£»¡¡even¡¡when¡¡given¡¡with¡¡the

greatest¡¡candour¡¡£¨which¡¡it¡¡has¡¡not¡¡been¡¡upon¡¡every¡¡occasion£©¡¡is

much¡¡more¡¡to¡¡be¡¡depended¡¡upon¡¡with¡¡regard¡¡to¡¡the¡¡former¡¡of¡¡those

two¡¡objects¡¡than¡¡with¡¡regard¡¡to¡¡the¡¡latter¡£¡¡Their¡¡superiority

over¡¡the¡¡country¡¡gentleman¡¡is¡¡not¡¡so¡¡much¡¡in¡¡their¡¡knowledge¡¡of

the¡¡public¡¡interest£»¡¡as¡¡in¡¡their¡¡having¡¡a¡¡better¡¡knowledge¡¡of

their¡¡own¡¡interest¡¡than¡¡he¡¡has¡¡of¡¡his¡£¡¡It¡¡is¡¡by¡¡this¡¡superior

knowledge¡¡of¡¡their¡¡own¡¡interest¡¡that¡¡they¡¡have¡¡frequently¡¡imposed

upon¡¡his¡¡generosity£»¡¡and¡¡persuaded¡¡him¡¡to¡¡give¡¡up¡¡both¡¡his¡¡own

interest¡¡and¡¡that¡¡of¡¡the¡¡public£»¡¡from¡¡a¡¡very¡¡simple¡¡but¡¡honest

conviction¡¡that¡¡their¡¡interest£»¡¡and¡¡not¡¡his£»¡¡was¡¡the¡¡interest¡¡of

the¡¡public¡£¡¡The¡¡interest¡¡of¡¡the¡¡dealers£»¡¡however£»¡¡in¡¡any

particular¡¡branch¡¡of¡¡trade¡¡or¡¡manufactures£»¡¡is¡¡always¡¡in¡¡some

respects¡¡different¡¡from£»¡¡and¡¡even¡¡opposite¡¡to£»¡¡that¡¡of¡¡the

public¡£¡¡To¡¡widen¡¡the¡¡market¡¡and¡¡to¡¡narrow¡¡the¡¡competition£»¡¡is

always¡¡the¡¡interest¡¡of¡¡the¡¡dealers¡£¡¡To¡¡widen¡¡the¡¡market¡¡may

frequently¡¡be¡¡agreeable¡¡enough¡¡to¡¡the¡¡interest¡¡of¡¡the¡¡public£»¡¡but

to¡¡narrow¡¡the¡¡competition¡¡must¡¡a

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